Vibhor Steel Tubes Limited (VSTL) has released the transcript of its Investor Update Conference Call, which was held on January 07, 2026. The call, initially announced on January 03, 2026, focused on the company's operational and financial performance, the introduction of new value-added products, and updates on the newly launched plant in Odisha.

During the call, Managing Director Mr. Vibhor Kaushik highlighted the company's significant year-on-year growth, with revenue surging by 19% and Profit After Tax (PAT) jumping by 60%. The new plant in Sundargarh, Odisha, is operational and catering to markets in Northeast India, Chhattisgarh, Odisha, and West Bengal, as well as parts of the South. The company is diversifying beyond pipes into products like crash barriers (highway guardrails), transmission line towers, and poles (octagon, high mass, and soon monopole).

VSTL is targeting a product mix of 75% pipes and 25% miscellaneous products, which offer healthier EBITDA and PAT margins. The crash barrier segment, particularly in Hyderabad, is experiencing high demand and running at full capacity, with similar traction observed in Odisha. The transmission line tower business is progressing with state and Power Grid approvals underway. The company's export business remains steady between 3% to 5% and is expected to scale up from the Odisha plant.

The company's installed capacity has increased to 3,77,000 metric tons with the Odisha plant. VSTL has a strong historical growth trajectory since its inception in 2003, with significant expansion in production capacity and product diversification. The management emphasized that investments in CAPEX are primarily directed towards these high-margin, value-added products and enhancing infrastructure to service the increasing demand for pipes.

Discussions also covered margin expectations for new products, with transmission line towers and poles showing significantly higher EBITDA margins compared to pipes. The company anticipates improved overall margins as the product mix shifts and capacity utilization increases, especially in the Odisha plant. VSTL expects Q4 to benefit from inventory gains due to rising steel prices.